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Commercial Litigation Funding

Litigation Funding Assessment

The main ingredients of a fundable claim are that:

  • The claim should have good prospects of success against a solvent defendant; and
  • The claim value should be for a sufficient multiple of the likely costs. For example the claim should normally be worth at least 6 times the costs of pursuing it all the way through trial. There are no upper limits in terms of costs or the quantum of damages.

 

Breaking this down a little further, Calunius Capital will assess potentially investable cases on a variety of factors, principally:

  • Merits – What are the strengths and weaknesses of the legal arguments and of the supporting evidence?
  • Quantum – What level of damages is likely to be achieved on success at trial or on settlement?
  • Recoverability – Is the Defendant good for the money?
  • Time – How long will it take to achieve resolution, including the risk of appeal?
  • Costs – How much will the Claimant’s costs turn out to be; what is the risk of over-run; how will the adverse costs risk be dealt with?
  • Variability – How likely are each of the above factors to change?

 

In principle, we work with the case materials that are available. Ideally, in order properly to assess the risk, we like to see and evaluate the following items before a decision can be taken:

  • The principal documents (contracts, correspondence etc.) relied on in the case;
  • Any witness statements that have been prepared;
  • Any Court documents that have been filed;
  • A written legal opinion dealing positively with the merits;
  • A written, legally coherent justification of the quantum sought in the claim;
  • A written estimate of the costs to be incurred in pursuing the claim.

 

However we do recognise that, depending on the stage the preparations of the case have reached, some of these documents might not be immediately available. In particular we do not necessarily require a Counsel’s Opinion and the Calunius Fund will pay for the preparation of a formal legal review in appropriate cases.

 

Back to Litigation Funding

 

 

Calunius news and media

Swiss Legal tech Conference 2017

Zurich, 3 October 2017

Calunius partner Christian Stuerwald will present a workshop titled 'An investor’s perspective: litigation funding, claims aggregation and legal tech' at this event which will bring together a community of legal professionals and digital innovators in order to discuss and develop the legal industry of the future. The three day event begins with a Legal Tech Hackathon, where lawyers and software developers jointly identify problems and develop solutions. Accompanied by legal engineers, lawyers with technical expertise, ideas will be generated in an open format and teams created around shared interests. A parallel full-day workshop track on October 3rd provides in-depth lectures and individual discussions in focus groups.

ICCA-QMUL Task Force on Third-Party Funding - Discussion

Lisbon, 9 October 2017

The Lisbon University Faculty of Law is hosting the first public event dedicated to the presentation and discussion of the Report of the ICCA-Queen Mary Task Force on Third Party Funding in International Arbitration. Calunius partner Mick Smith will be participating in the panel discussion 'The Report and the Clients & Funder’s Perspective'. Click on the headline to access the event programme.

AIPN Event "Arbitration Strategy and Funding"

London, 18 October 2017

Calunius chairman Leslie Perrin will participate in a panel discussion on "Arbitration Strategy and Funding" hosted by the Association of International Petroleum Negotiators (AIPN). The last several years have witnessed a tremendous increase in the participation of third-party funders in both international commercial and investor-state arbitration. Now more than ever, claimants are seeking external funding, either because they lack the necessary funds to commence arbitration proceedings or because they want to sustain cash-flow and offset the risk of uncertain arbitration outcomes. The panel will discuss the hotly debated topics associated with third-party funding and provide an update on the latest funding products in the market.

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